Friday, February 20, 2009

Rough Seas On The West Coast

Today is the sort of day on the West Coast any surfer would love.  Swells are running at around 12 to 18 feet and surfers are out in force at popular beaches like Mullins where loungers on the sand are having a hard time keeping their feet dry.  The patch of rough seas seems to be an apt metaphor for what is currently going on around the west coast economically.  We learned yesterday, as this blog indicated back on January 7, that all is not well on Clearwater Bay with the Four Seasons Resort building project.  With nearly half of the villas unsold and even less already built work came to sudden and unexplained stop yesterday.  Hopefully, thing will be come clearer as the day wears on but the major damge has already been done - word is now out that this project is in deep financial trouble if not also a total disaster.  Look for the few who have already bought in to be lining up to recover their deposits.

Click here for related Nationnews.com article.

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